Business news from Ukraine

Business news from Ukraine

NovaPost expands its presence in Europe

Nova Post Group has announced the opening of NovaPost branches in Latvia and Estonia in October and November 2023.

“The opening of the first Nova Post branch in Latvia is expected in October and in Estonia in November,” Svetlana Knizka, CEO of Nova Post in Lithuania, Latvia and Estonia, was quoted as saying in the group’s press release on Monday.

It is indicated that before the opening of branches in these countries will work the possibility to call a courier to any address throughout Latvia and Estonia to receive parcels or send them to Ukraine. The group announced the launch of this service for mid-September 2023.

It is specified that the courier service will work on weekdays from 8:00 to 17:00, it will be possible to send or receive documents and parcels up to 30 kg, delivery from 5 days.

As reported, NovaPost already operates in Lithuania, Poland, Czech Republic, Moldova, Romania and Germany.

The network of NovaPost in Ukraine at the beginning of July included more than 10 thousand offices and more than 14 thousand post offices.

According to Standard-Rating, revenue of Nova Posta in the first quarter of 2023 increased 2.1 times to UAH 8 billion 83.1 million, EBITDA – almost 4.4 times to UAH 1 billion 307.8 million, and net profit – almost eight times to UAH 1 billion 54.91 million.

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